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20121230
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English 74
Search Results 0 to 49 of about 74 (some duplicates have been removed)
FOX News
Dec 30, 2012 1:00am PST
's what the deal is. president obama wants tax cuts to expire for everyone except those making $250,000 a year. john boehner's plan "b" was anyone making under $1 million a year. neither seemed to work. it looked like president obottomma was coming back with the same deal, $250. they are miles apart. they are miles apart. >> there is a big divide. andrea, you were able to speak with a number of people on the hill. what reaction are you getting? >> well, the president has spread these stories and people in his administration that he is going to come to the table with a deal. we have been hearing that all week long. that did not happen. swan dive, we're going off the cliff. president obama wants us to go off. he is going to come back with a larger plan, the obama tax cuts. then he will be able to reinstate those across-the-board sequestration cuts to gut things like defense, national institutes of health. he will be able to reinstate a lot of programs and give his caucus the opportunity to say, look, i am voting for something and to restore tax cuts for the middle class. i am voting t
FOX
Dec 29, 2012 11:00pm EST
americans but key disagreements on eptitlesments and tax rate thresh finds remain. president obama's original plan called for increasing taxes on families earning more than $250,000 now $400,000 could be a number on the negotiating table. >> the $400,000 level seems to me to be with about right. that represents about the top 1% of income earners in the country and is they got knee% of the growth and there is some flexibility there. >> reporter: the republicans say the u.s. is not facing's revenue problem. >> i feel like i'm a lifeguard and we have to save as many people from drowning and higher taxes as we can. >> reporter: in the weekly address to the nation, president obama urged congress to do something. >> we can't afford a politically self-inflicted wound to our economy. >> reporter: congress will try to find compromise. >> i am still optimistic and i think we can avert this and there is enough common sense to come together and get it solved. >> reporter: a combination will kick in on january 1st. if no deal is made, president obama will press congress to vote on a plan c, one
FOX
Dec 30, 2012 9:00am EST
, the first bill the democrats will introduce, ar te the obama tax cuts and he proposes to relower the rates -- >> if they don't do something the taxes go up for everybody. >> yes. and the president proposes relowering them to somewhere near bush rates for everybody under 250 and the republicans don't want to be in a position of stopping that. >> chris: but why, byron, were they unable to do anything about the real problem? i mean -- if you take the amount 0 -- say, 400,000, it would be $600 billion increase in revenue to the government, ovehe next ten years. $600 billion, in terms of a deficit of $16 trillion, going up, by another 2.5, $3 trillion in the next ten years is peanuts. >> you heard lindsay graham talk about entitlement reform and the debt ceiling issue but if you look at -- among democrats, especially, further to the left, since the election, their feeling has been, president obama won, we will not take this out of seniors, we will not take it out of medicare, we will not take it out of social security. no cuts, and those things and that posin has hardened, i think on the left i
CNN
Dec 30, 2012 12:00pm PST
the obama care tax that's coming and the tax, the disappearing bush tax increase and this hits primarily as you know, small business owners and people who file subchapter s corporations. >> that's not who is primarily hits, it hits some of those people. >> over half of all the small business income that ends up paying this higher rate, if you do it. and the last time we did this, more than two-thirds of the people who got hit, were actually the subchapter s corporation. i think it would have a very significant effect. the other effect it has is that we're not cutting spending because we're spending too much money. and that sends a very bad signal. if we're not going to do entitlement reform, because every time we talk about it obama says let's raise taxes instead. we're dealing with tens of trillions of dollars in unfunded liabilities, in four years obama has done nothing on entitlement reform. nothing for four years. what has he done? chirped about raising taxes on rich people. raising taxes on rich people is what obama talks about instead of doing his job. there are two costs to this.
FOX News
Dec 30, 2012 11:00am PST
this is they know if they hold this pass january 1 the first bill the democrats will introduce are the obama tax cuts in which he proposes to relower the rate on everybody. >> chris: but you if they don't do anything the taxes go up for everybody. >> and the president proposes relowerring them back to rates for are everybody under 250 and republicans don't want to be in a bulldogs o position of stopp. >> chris: why were they unable to do anything about stopping real problem?lem fo if you take the amount raised. $600 billion increase in revenue to the government over the next ten years. $600 billion in terms of a deficit of $16 trillion going up by another 2.5, $3 trillion in the next ten years is peanuts. >> you heard lindsey graham talk about entitlement reform and that is what republicans want to press and a debt ceiling issue. if you look at sentiment among democrats especially further to the left since the election their feeling has been president obama won and we will not take this out of seniors and we will not take this out of medicare or social security. no cuts in those things. that pos
KOFY
Dec 29, 2012 9:00pm PST
obama wants smaller bill extending tax cuts making $250,000 or less and continuing unemployment benefits for millions that will lose them. >> i believe such a proposal could pass both houses with bipartisan majorities as long as these leaders allow it to come to a vote. >> we can still avoid going over the fiscal cliff if the president and democratically controlled senate step forward to solve this problem and solve it now. >> frustration over the impasse runs from wall street where the dow is down 400 points to main street. >> this is america. they should be working for the american people. >> the parties are trying to outdo each other. >> sit down and don't come out of this that room until you have taken care of. >> the shows back in session that afternoon and could vote on the senate version. >>> a south is a san francisco retired ee is now $23 million richer. he bought a winning ticket at pharmacy in san francisco before christmas but he didn't discover high won when a friend remind himd to check his ticket. he hasn't decided what to do with the money. >>> coming up, a look at the mo
CBS
Dec 29, 2012 11:00pm EST
that the rich pay more taxes. obama insists his plan on the table is fair and includes plenty of cuts to government spending. >> we just can't afford a politically self-inflicted wound to our economy. >> reporter: if sunday's negotiations don't pan out, the president says he is ready to propose his own scaled down bill that would block tax increases on all but the wealthy and preserve expiring unemployment benefits. with the deficit ticking ever higher, patience is wearing thin. >> for those of us that invest in the stock market it's disgusting to watch them jockey around with our money, because it gets affected every day. >> reporter: missing in all the last-minute negotiations is talk of the $1.2 trillion in mandatory spending cuts scheduled to go into effect on tuesday. the u.s. will also hit its borrowing limit on monday make it difficult for the government to pay its bills. >>> meanwhile, an elderly woman is cammed fast moving fire that left two others hurt. tonight fire investigators say the woman may have gone back in the burning town house to warn the others. the fire swept th
FOX News
Dec 29, 2012 5:00pm PST
prepare for that. they would do things. because nobody knows what will happen, obama care taxes are kicking in next year, unavoidable. a whole host of other taxes are i can cking in that are unavoidable. to plan for even something worse is difficult right now when you really don't know what other taxes are coming. that's the real problem. we don't know what else is in store. the other thing is, one of the other problems with the president is his economic literacy has never been very high. i think that scares -- >> what do you mean by that, his economic literacy? i mean i think i know, but i just want to -- >> lits -- listen, the president is a smart man. he wept to some good colleges, but when it comes to the economy, listen. much makes no sense. i'm talking democrat, republican, he says stuff -- this is just based on what he says, what he says affects prices. what he says about the need to raise taxes on the upper income like that will be good for the economy. that will not be good for the economy. if you are making 250 and you are a small business you are employing people and
FOX News
Dec 29, 2012 8:00pm PST
essentially rewrite legislation. changing the tax congress passed to declare obama care constitutional which is a littleec scary that the highest justice is -- justices in the land would take the activist roll. that's what is scary. the backdrop of the presidential year was europe. we know where this path leads. all this turmoil, the huge welfare and the low productivity and high unemployment that comes along with them, that was the backdrop of the presidential campaign. voters voted, and they said, yes, we are going to keep moving in that direction, kim. where do you think the electorat is here? is it be ibd hue the choices that -- is it behind the choices that jason suggested they might be? >> barack obamaus won this election by very effectively making this a referendum about his opponent, mitt romney. if you went out and asked most americans, do you think barack obama did a great job in his first term? do you want significantly higher taxes? do you want the government to do nothing about spending? are you happy with obama care? most would say no. but in the end the choice was between a pr
FOX Business
Dec 29, 2012 8:00pm EST
're not adding in the obama increase in petrol taxes. it's over 40 percent. that it's all businesses, subchapter s corporations, elsie's. the larger corporation, the corporate tax rate goes down. that makes them feel good. the businesses that will be hit by these tax increases are the very small and midsize businesses that create jobs ame people that get hit with obamacare, the energy increases, and a larost increases. lou: what if i told you that it makes some sense. give him at the margin what he wants on taxes. whether that's on investment tax , camping deductions. basically what mitt romney was proposing. get that done. then say what you going to do? you going to still be left if you roll all of hat up. you will still be left with a huge deficit. it's going to have to mean cutting the federal budget. >> even if we increase the tax rates, the top 1 percentn this country makes seven timbers of the income. 37 percent of the taxes.. so a fair share argument really is it -- lou: you're getting a again start out ere. yourast shot. >> mr. president, please, pase work with the business community. we
ABC
Dec 29, 2012 11:00pm EST
up with president obama calls the bare minimum addressing tax cuts without doing anything to curb spending. >> we will get at best a patch and be here again in two months. congress cannot get out of its own way. >> average family would pay an extra $3,400 next year. >> the law says that every american's tax rates are going up. every american's paycheck will its mother. if that the impasse has shaken wall street, -- the impasse has shaken wall street. >> i think the likelihood is we go over the fiscal cliff. >> jim moran is wondering if partisan politics has destroyed the chance for any agreement. >> i don't think we will be up to reach a deal, no matter how small it might be. >> the american people are watching what we do. obviously, their patience is already thin. >> if senate leaders reached a deal, rank-and-file senators could vote by sunday, house member sunday night. right now there is not enough time left, they really need a deal tomorrow to beat the monday midnight deadline. richard reeve, abc 7 news. >> in addition to working on a deal on the fiscal cliff president obama h
MSNBC
Dec 30, 2012 4:00am PST
was modestly optimistic about a deal on taxes. speaking in the white house briefing room, president obama condemned congress for failing to resolve its differences in in normal way. he held firm to middle-class tax cuts to families making $250,000 per year. joining me now from the white house is nbc's kristen welker. kristen, let's take a look at what the president said about what he expects from the senate. >> i just had a good discussion from house leadership about how to prevent this on the middle class. i believe we can reach an agreement. if an agreement isn't reached in time between senator reid and sno senator mccollum, i will reach to him. i believe such a proposal could pass both houses with bipartisan majorities as long as the leaders allow it to actually come to a vote. if members of the house or the senate want to vote no, they can. but we should let everybody vote. >> kristen, this up or down vote seems to be the big news of the day. isn't this what the white house wanted all along? >> well, it is and it's president obama's way of saying, look, vote on his basic proposal, the
CBS
Dec 30, 2012 6:30am EST
the other candidate. >> simple as that. >> obama care, about changing the tax code. people didn't like to hear that. >> mitt romney almost won. if he had shown up in new jersey, he probably would have had a better shot. >> mitt romney who he said those who don't care about students who are in a country illegally have no heart, it almost killed his campaign. >> most dishonest, john boehner, republican speaker of the house. saying quote unquote, let's be honest, we're broke. we'll be right back with new years resolutions. ♪ [ music ] >>> new years resolutions, pat. >> get at list one book on nixon done this year. >> another one? >> one. >> can get cracking on my memoir, and also continue to jog so i can continue to stay healthy and continue to do combat. >> ensure that everything i put on twitter is completely accurate. >> are you going to do a memoir? >> no. >> really? >> write a book that responds to pat buchanan's last book. >> my new year's resolution is to not have such a heavy foot when i accelerate vehicles. we try to give it to you straight. celebrate the new year. bye bye. ♪
NBC
Dec 30, 2012 9:00am EST
to vote on a measure that would extent tax cuts on everybody but the rich. >>> and president obama maintained his position of raising taxes on wealthy americans. meet the press moderator david gregory sat down with an exclusive interview with president obama, and you can see that at 10:30. >>> new today, police are trying to identify a man. the "washington post" reports the victim was behind the wheel when he was shot and then he crashed into a tree. no word on developments for a search for a gunman or if there has been an arrest made. >>> and tonight there will be a vigil for a football player found stabbed to death. there was an arrest. police found stringfellow dead in a fan on friday night in vienna. the two strangers had plans to meet. his former teammate is understandably saddened at the news of his death. >> it was really hard for me, because he was one of those guys in my freshman year, he brought me under his wing and just showed me what to do and what not to do, and just -- it just hurts me to just see him gone like that. >> stringfellow played football in virginia, and h
CSPAN
Dec 29, 2012 7:00pm EST
election. and the differences have always been that president obama has maintained that tax cuts should be allowed to expire for people making more than $250,000. mitt romney called for extending all the tax cuts fully. and making other changes to the tax code. but, you know, i mean, he wouldn't be in office right now anyway. so i think we would still be here talking about what to do come january 1. host: all right. david in maine on our line for independents. go ahead, david. caller: yes. i've been around for a few years and i've seen this coming since 1970. when revenue -- when wages did not go up, revenue doesn't come into the government. and when we constantly spend and promote money, shipment overseas, shipment job overseas, and we blame people like me on social security, you know we're elite on systems. excuse my language. host: david, we're going to leave it there. joseph rosenberg. guest: it is true right now that tax collections are at near historic low but that largely remains a result of the still weak economy. and so when the economy went into recession in late 2008, tax col
FOX Business
Dec 30, 2012 1:30am EST
mr. clinton tax increases as far as the eye can see under mr. obama. >> wheno the spendg cuts happen, sarah? >> never. >> and you often see the tax increases kick in and inhe health care law, and spending never gets cut. >> i think you need to look where the spending goes, providereventive care. and we saw 80 million acces preventative care and that's a net savings for the entire health care system passed on to all of us. >> how have job cuts we've en the medical device makers, they're soued the horn about them. how does it help the broad economy though? >> what you're seeing is readjusting of the economy. most of this tax money ces out ofhose m making 250,000 or mo more, an increase on those individuals. at the same time that we're finding out her on capitol hill about a drease on those making 250 or less, so, majority of amerans. when we have this increase on aery small portion, we see that those folks are welcoming this increase, a poll released the day befor christm put thugh american express and the harrison group, saw that 67% of those making 1% or more want today see this incr
FOX Business
Dec 30, 2012 2:30am EST
against it it is a important policy work. it is probably a bad idea. we don't need new tax. the mileage tax could hurt fuel efficnt car it is the and questions of heavy congestionimes and it is unwoable idea and why the obama administration distanced it. >> we have a trust fund in 2013 and that is to go to the roads. it will be negative and needs a fuel tax to fund it aga. >> it is not too long. it will go native in 2015. thgas tax isaised continuously since it was enacted in the 1950s. they are paying 64 cents a gallon in taxings. why is that the only proposal. it why not freedom. there is it public as in every country but here at home la guardia. terrible airport owned by the governme. new mexico and new zealand. airports are tradod the stock exchange and hps the government and services as well >> carroll. i tell you, i use the roads in the country and i go skidding on two to school and i am part of the reason there is it pot holes it makes sense to charge me more. >> i think that is a linier solution to a complex problem. if you have a suv . i am with johnathon. why can't they add va
NBC
Dec 30, 2012 11:00am EST
roundtablers pick? was the smartest obama decision to campaign relentlessly on raising taxes on the rich? or was it the early takedown of mitt romney in all those ads last spring that painted him as a rich guy? or the high-tech multimillion dollar back room operation to identify every obama vote and then turn it out on election day? for finally, was the smartest obama decision just bring it in, bubba? >> no president, not me, not any of my predecessors, no one could have fully repaired all the damage that he found in just four years. chris: was that stacking the deck, mike? >> all good. the one they think wargs the brilliant one was betting that if they spent $150 million in nine or 10 states over the summer, it would pay dividends when the thing got tough. and they bet it when they didn't know they would have money later. chris: to bring down romney. >> as a rich plutocrat. they knew that would help them later if it got tight and it did get tight. obama told people in the summer what are you doing? what are you thinking? i want to keep it close now and win it in the debates. that's pret
MSNBC
Dec 30, 2012 12:00pm PST
of wealthier americans. of course, president obama wants to see the bush era tax cuts extended for those making $250,000 or less while letting it raise on those making more than that. that $250,000 figure is up for debate and is up for compromise. i can tell you that republican leaders on the hill fired back saying he was more interested on assigning blame than getting something done and leading while they are trying to hammer out a deal. that is where things stand right now at the white house. clearly watching these developments quite closely. >> kristen welker, thank you. we will be checking back throughout the afternoon, as well. nchlts for more on where negotiations stand and whether a deal can be reached before the deadline we are joined by michigan democratic congressman. thank you for being here today. we are learning that negotiations have hit a major setback over a republican offer that includes entitlement changes. what exactly you hearing? >> i'm hearing just that. i think that the decision by senator mcconnell to bring up chain cpi is not a helpful step. it will effect the benefits
MSNBC
Dec 30, 2012 2:00pm PST
obama wants higher taxes on the wealthy, stimulus spending, limited cuts to entitlements, and speaker boehner wants limited tax increases and keep his job. bob, which -- where do we go from here if a deal isn't hashed out in the next few hours? >> not necessarily in that order. i think the priorities for john boehner may have been turned around. jared is an old jazz fan, as am i, and he knows that miles davis had a song called "so what" and i think that might be the background music right now as all the posturing is going on in public. the simple fact of the matter is that they are setting up the process for working out a deal after they have scared the daylights out of everybody, and it would seem to me that to quote another song, which is "what are you going to be doing new year's eve," i think that we'll be finding that these people are still hard at it and maybe calling congress into session tomorrow night which is a really rotten way to end the year. >> jared, explain for our viewers what it really means to go over the cliff. >> well, first of all, as a former jazz bassist i have
CNN
Dec 30, 2012 2:00pm PST
republicans may believe, as steve said that raising taxes on people over 250 is a mistake, president obama ran very clearly on doing exactly that, won 51% of the vote, 332 electoral college votes, we are probably going to get there the question how much crockery do we break along the way? >> ron that's fine. let's be fair here. we have been negotiating this six weeks, since the election. the president, when i talk to my republican sources say, look, the president hasn't put anything serious on the table still on spending cuts, ron. i think that's, you're right urkts bo, both sides have to give a little bit here, i haven't seen much give on the democrats' side of the aisle here. >> the inability to comp prom my keith stone to democrat circumstance todd, why don't you weigh in on this. what is your feelings with what has to be dealt with by not just this congress but 1913th congress, numerology could worry you a little bit. >> stephen hit the nail on the head, talk about the spending cuts, that actually is not even in existence right now you right now you the top line issue has been about tax re
NBC
Dec 30, 2012 6:00pm EST
. the gop to get off the table. the deadline is monday at midnight. if no deal, taxes go up on nine out of 10 americans. potentially catastrophic spending cuts start kicking in. lawmakers spent much of the day behind closed doors plotting strategy. president obama blamed the impasse on republicans. >> the way they are behaving is there on the priority is making sure the tax breaks for the wealthiest americans are protected. >> on sunday, the president talked about his plan b. he wants the senate to vote on extending tax cuts to everyone but the rich. >> if the republicans baca, middle-class taxes will go a. >> a political showdown with only one certainty, tomorrow night's deadline. the president has a plan c, reversing the effects of the cliff on january 4 when the new congress is in town. >> if america does fall off the fiscal cliff, maryland would be hit hard. hundreds of millions of dollars and tens of thousands of jobs lost. sarah sampson continue our coverage. >> maryland has very strong ties to the federal government. lots of federal workers and businesses that rely on the federal
ABC
Dec 30, 2012 9:00am EST
to the death tax. six of the wealthiest estates are the difference between what president obama warrants and jon kyl wants, $119 billion over ten years. for those 600,000 estates to give $119 billion away and instead take it out on cuts on medicare and roads and education is unconscionable. >> the bigger picture for a second. we've known for two years that these tax cuts would be expiring the day after tomorrow or the end of the day tomorrow. we've known these automatic cuts, the so-called -- this was going to be happening for more than a year. respect you a little embarrassed as leaders in the congress that it has gotten to this point that tomorrow is new year's eve, the day it all expires and you still don't have an agreement? we've been having this argument for two years. >> it is embarrassing but almost every disagreement we've this is not because of a senate where we've had lots of -- we've come to agreement on many things. there are 50 hard right people in the house who don't want to compromise. they don't believe in any revenues, they say compromise is a dirty word and speaker boe
FOX News
Dec 30, 2012 9:00am PST
obama campaigned campn capping it at $250,000, raising taxes on those who earn more than $250k, but some of the discussion and it is buzz around capitol hill has been about perhaps going to the $400,000 mark. the question is, will you get enough republicans to buy in if that is the deal? shannon? >> thanks to mike on capitol hill. we will continue to check in. now to ed henry, continuing our live team coverage from the white house. good afternoon, ed. >> reporter: good to see you, this is the president going out and trying to frame this debate on his own terms, appearing on a sunday talk show for the first time since 2009, when he was pushing health care reform, now, obviously trying to sell a fiscal cliff deerl deal. he went on nbc's "meet the press," again and again, he hammered the message, trying to put the blame on republicans for the fact we are up against this tight deadline. the president made clear that if republicans in the next 48 hours do not come up with a counter proposal to get us through this crisis, he wants an up-or-down vote on his short-term plan to extend unemploymen
MSNBC
Dec 30, 2012 5:00am PST
, the budget impact will be as obama care gets implemented. the president to ris credit ran on tier taxes for the rich. he said he was going to do it and now he won the election and he's doing it. if they raise taxes on those 400 thigh, or million, it is a tax increase but that's an issue that they'll have to fight out. that 1990 budget tax increase still scars the republican party today. two decades later. they learned lessons, remember that george h.w. bush who we're glad to hear is recovering, was defeated running for re-election. that memory lasts a long time. >> the neerk times sa"the new yd it's been a long time. we have congressman keith from minnesota. from you're standpoint and from the standpoint of the house progressive caucus is there a bottom line? if the threshold is too high you won't support a deal? >> well, there are bottom lines. but the most important bottom line is -- no cuts to social security beneficiaries, medicare, medicaid beneficiaries. we need the defense department -- defense is going to have to share in what everybody cuts we see. the most well to-do people ar
NBC
Dec 29, 2012 11:00pm EST
not address massive spending cuts but lawmakers are trying to avoid tax increases for most americans. nbc's david gregory talked to president obama about negotiations today in an interview that airs on "meet the press" tomorrow. the president continues to be optimistic but he, i think, in part is doing the interview on "meet the press" because he wants to keep the pressure on republicans to get something done and made very clear in the course of the interview that there's a political cost to be paid if there is not a deal. you can see the full interview with the president from the white house tomorrow morning on "meet the press" at 10:30 right here on nbc 4. >>> some good news for former president george h.w. bush tonight. he's out of intensive care. the 88-year-old's been in the hospital for five weeks now. he was recovering from bronchitis last weekend when he developed a fever and was moved to the icu. the bush family released a statement today saying they're thankful for everyone's prayers and good wishes. >>> tomorrow is the big day for redskins fans. they face the cowboys of course
ABC
Dec 30, 2012 8:00am PST
of that depends upon whether president obama is willing to compromise this sort of fixation with raising taxes above anybody making more than $200,000 a year. >> reed and mcconnell are both very good leaders and vote counters. if they come to an agreement, they know that they will be able to carry a majority of each of their troops. the real question mark is the house. the house is a bit out of control. they're the reason we've had the problems all along but my guess, if the house and senate agree and leader mcconnell agrees, the house will go along with it too. >> senator -- >> i would just say it is not out of control to want to do something about our runaway spending in our country. >> you've got to compromise. you've got to compromise. >> senator schumer, senator kyl, thank you very much for joining us and i hope you are right to be optimistic. >>> up next the house has its say. are they ready to vote yes on a potential deal that may come from the senate? >>> plus, our powerhouse roundtable waiting in the wings their take on the toxic environment in washington, the fiscal cliff and their p
CSPAN
Dec 30, 2012 2:00pm EST
that is on the tax rate. president obama had initially wanted, earning and, above $250,000 for year. now they may be raising the threshold to 500,000. that kind of thing was more difficult for democrats, so we threw in an estate tax rate, which makes the deal more difficult. we will see. a bit of a standoff, democrats called it a setback. mitch mcconnell said that he reached out to joe biden and called joe biden and ask him to broker something. to take stock of where things are at. >> some sort of legislation in the senate could also be taken up by the house. what is the timetable for getting these things done? >> there's always a look at the time table. the house has a rule that requires legislation to be posted within three days. that said, it is difficult for americans to think of there is still time. the tax rates do not expire until tomorrow. even if you can get the machinery running, it still takes the desire to come to an agreement. >> what about coming in on the weekend and covering something like this? how difficult is this to follow? >> a long walk through the capital. this is the holid
FOX News
Dec 30, 2012 8:00am PST
will be hit the hardest because one of the things that mr. obama doesn't give republicans enough credit, is that the bush tax cuts were most generous for low-income people and less so for middle-income people. and on top of that, mr. obama has put in place what was supposed to be temporary benefits that have turned out to be permanent, which will also expire. he has credibilitied to further dependency on the government in that way. >> how that will affect our take-home pay? >> it will be down rather substantially for middle-income people, several thousand a year. you will see a drop by $200 to $300 a month. it will have a pronounced effect on the economy by february. >> you said, by february. there are some strategist who is have said that the fiscal cliff won't hit the economy right away. tell actually give lawmakers more time to continue negotiating. but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social
MSNBC
Dec 30, 2012 9:00am PST
forward a little bit more, president obama more on spending reductions including entitlement reform, he did do some and mr. boehner, speaker boehner coming forward not just $1 million having a tax raise, those earning $400,000 to $500,000, you can get the grand bargain. it's not what we are talking today. get the fiscal cliff to where you change the scale to a bunny slope, where the skier can pick up speed, accelerate the economy up to 3%, only reducing the debt reduction down 200 billion. then with the surging economy, you get $3 trillion in february before the debt limit is broken, then the economy is so strong it can take the grand compromise and roar into the next nine years. that's the grand compromise. >> i heard you use that reference of the bunny slope. we are about to hit the bunny slope as opposed to the fiscal cliff. this is from an article in the washington post. if an agreement is reached, taxes would go up a bit for the wealthy. there would be no changes to entitlement programs, medicare, social security, no grand strategy to race cash through a tax code. a fresh start for
CSPAN
Dec 30, 2012 10:30am EST
for a possible plan on taxes and spending. president obama was on "meet the press of" today saying the pressure is on congress to make a deal. he was optimistic, but he said that they cannot come to an agreement, he wants the senate majority leader to introduce legislation to make sure middle class taxes stay where they are. live coverage of the senate on c-span2 when the gavel in. the house out to woodcock with the boats as early as 6:00 looking at a number of legislation from veterans to foreign aid. you can watch the house live here on c-span. >> republican olympia snowe from maine is also retiring at the end of the 112th congress after three terms. next, her farewell address. it is about 35 minutes. >> i rise today with an infinite appreciation for the institution of the united states senate as well as a profound sense of gratitude. as i prepared to conclude my 18 years in the senate and my nearly 40 years in elected office on behalf of the people of maine. madam president, it has been difficult to envision the day when i would be saying farewell to the senate. just as it was impossible to
CNN
Dec 30, 2012 8:00am PST
. there was a point when obama moved from $250,000 threshold on taxes to 400. boehner put tax rates. >> boehner said for the first time republicans would be willing to support. the question is, how much his troops would be backing him raising tax rates on those over $1 million. which for given the republican fervent opposition to any raise in tax rates, that was a significant step, but then it stopped. >> during that time about a week where the white house and speaker boehner's office was not criticizing each other. lines of communication were open. since then, it's gone south. >> does it seem like a dull story because it's an artificial crisis created by congress itself. they could solve this thing in ten minutes with ample compromise on both sides. while the country is following this news, it's not a breathless anticipation. >> the only thing that is starting to sink in with people, howie, where i think it is getting more public attention is that people are now realizing that their paychecks really will be a lot lower very soon if nothing gets done. therefore, i think it is very legitimate interes
FOX News
Dec 30, 2012 3:00am PST
. >> juliet: president obama continues to push for tax hikes on the rich. and france lost a bid to raise taxes and he want today raise to 75%. now, there weren't a lot of people he was focused on, really not that much money, he was going to raise, but the fact is he wanted the french judicial council, however, said it would have been excessive and unconstitutional. joining us-- >> sorry, dave. >> dave: and for tax foundation from the heritage foundation. >> juliet: good morning, curtis. >> good morning. >> dave: what's the deal here, the decision made is not unconstitutional, but bottom line, bad for the economy? i think we can learn from this? >> that's right, the court has bailed them out. and the tax increase, 75% rate was going to really damage the french economy. the french economy's already strugglingling and adding on the economy would be worse. >> i'm looking at it, expected to be a temporary two year measure and affect 1500 people and raise less than 661 million dollars. >> but the revenue we brought in, and what it would have done, it would have reduced the incentives, and working an
CNN
Dec 30, 2012 7:00am PST
, president obama today called for congress to at least extend middle class tax cuts and unemployment benefits if no fiscal deal is reached. tax hike increase take effect january 1st. >>> the situation in the war-torn country is getting worse by the day. this weekend is proving him right. opposition activists say at least 397 people were killed across syria yesterday alone. if true, the deadliest day yet in almost two years in the civil war. the opizatiposition says more t 200 killed following a battle. >>> new england is getting a heavy dose of snow and freezing temperatures. boston is expected to get up to eight inches and the city's mayor has declared a snow emergency. neighboring rhode island is also getting pounded over a foot of snow has already fallen in some parts of that state. >>> some good news this morning about former president george h.w. bush. we're told he is improving and has been moved out of the intensive care unit of the houston hospital where he was being treated for an elevated fever. the 41st president has been in the hospital for more than a month now. >>> those are you
CNN
Dec 30, 2012 10:00am PST
to prevent massive spending cuts and tax hikes from kicking in january 1st. president obama appeared today on nbc's "meet the press" and said the cuts in spending need to be fairly distributed. >> what i'm not willing to do is to have the entire burden of deficit reduction rest on the shoulders of seniors making students pay a higher student loan rates, ruining our capacity to invest in things like basic research that help our economy grow. >> in news overseas the bodies of the dead are being carried away in syria today. at least 397 people were killed saturday. that is the deadliest day so far in the 21-month long civil war. another 52 died today. the joint u.n. arab league envoy said the situation is rapidly deteriorating but that a solution is still possible. >>> in massachusetts boston's mayor lifted a snow emergency a little earlier today. more than a foot of snow fell on several towns across that state overnight. crews are clearing tons of snow in the gillette stadium now preparing for the patriots/dolphins game this afternoon. >>> keep it here as the clock ticks to the fiscal cliff.
NBC
Dec 30, 2012 6:30pm EST
obama continued his public campaign to pressure congress. >> if congress doesn't act, then everybody's taxes go up. and for the average family that could mean a loss of $2,000 in income and the whole economy could slow down at a time went economy's actually starting to pick up. >> reporter: he, again, called on lawmakers to strike a deal or hold a vote on his plan, which would raise tax rates on wealthy americans, a major sticking point for republicans. >> the way they're behaving is that their only priority is making sure that tax breaks for the wealthiest americans are protected. that seems to be their only overriding, unifying theme. >> reporter: after the interview, republican leaders accused the president of assigning blame instead of leading. >> when they say leadership falls on you, mr. president, you don't have a role here in breaking this impasse? you have had a tough go with congress. >> david, at a certain point, if folks can't say yes to good offers, then i also have an obligation to the american people to make sure that the entire burden of deficit reduction doesn't fall
NBC
Dec 30, 2012 6:00am EST
homeless. >> and meanwhile, president obama has been consistent in raising taxes on wealthy americans. and david gregory sat down with the president for an exclusive interview you will see coming up on "meet the press." >>> and police found a body last night around 8:30 in southwest d.c. the victim was behind the wheel when he was shot and then he crashed into a tree. no word on the developments in a search for a gunman or if there has been an arrest. >>> family friends and classmates will hold a can light vigil. >> the 22-year-old. police found string fellow dead. they say the two planned to meet. stringfellow played football in prince william county. >> it was really hard for me. because he was one of those guys my freshman year he brought me under his wing and showed me what to do and not to do, and it hurts me to see him gone like that. >> he played football in virginia and he was a sophomore. >>> today brings a very rare opportunity to see part of american history. the national archives is celebrating the 150 year anniversary by giving achance to see it up close. the proclamation
CNN
Dec 30, 2012 4:00am PST
appearance in three years. mr. obama is expected to call on a scale back plan that would only extend middle class tax breaks and unemployment benefits if the negotiations fail. republican senator mitch mcconnell is hoping there will be a plan to present today. >>> some sad news from hollywood. harry carey jr. has died. best known for his work in westerns appeared in almost 100 films including ten with john wane. but his career wasn't limited to the silver vene. he served in the u.s. navy during world war ii. he was 91. >>> caught on tape, the terrifying moments when a russian plane hurdled past a runway and sent debris crashing on to a highway in moscow. another driver capturing the scene on his car's dashboard camera. four people onboard the russian red wings flight were killed and four others were injured. the cause of the crash is under investigation. >>> and it's not just the fiscal cliff that could impact your wallet. we'll tell you why something called the dairy cliff could make your grocery bill soar if congress doesn't do something soon. [ rosa ] i'm rosa and i quit smoking with cha
PBS
Dec 30, 2012 10:00am PST
, it involves tax policy, it involves job training. i think that is the core promise of obama's second term and that's where he's gonna have to put a lot of attention. >> in your book, our divided political heart, you talk about our historic attention to individual matters and on the other hand, the community, the group. do you see signs now in this climate that the gap between those two ideas can be narrowed? >> well, i thinhistorically we always have as a country. we've always upheld both individualism and community as part of us, and i think what you've seen on the conservative politics, historically conservatives cared a lot about community as well as individualism and i think over the last two to four years, partly because of the tea party, you've had much more emphasis on the conservative side, on individualism, and i think since the election you've had sort of the compassionate conservatives that start to make a comeback, conservatives who say, "we do need this balance," and so i'm looking, i think as a country, we essentially voted foralance and i think a lot of conservatives want t
CW
Dec 29, 2012 9:30pm CST
mitch mcconnell was seen arriving on capitol hill hours after congressional leaders met with obama. >> we will be working hard to see if we can get there in the next 24 hours. i'm hopeful and optimistic. >> missouri senator ray blunt says that politicians on both sides have irresponsibility, but tax hikes will not do much to address the nation's debt. >> it will not pay one-third of the annual interest now on this massive $16 trillion debt. >> the house returns to washington sunday evening when the before a deal needs to be reached. it is likely that negotiators will be burning the midnight oil. >> a 23-year-old indian woman who was raped and viciously beaten in new delhi has died from her injuries. her body is being flown back to new delhi from singapore were she was being treated. in an unprecedented display of grief and anger, protesters are mourning her death. the victim, a medical student has not been identified. the protesters have vowed that her death will not be in vain. in new delhi, a report -- it is reported on average every 15 hours. >> it is the kind of insensitive tre
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